debt
confidence high
sentiment neutral
materiality 0.55
Primerica prices $600M 2.800% Senior Notes due 2031, to redeem 2022 Notes and repay revolver
Primerica, Inc.
- $600M aggregate principal of 2.800% Senior Notes due 2031; net proceeds ~$592M after underwriting discount.
- Proceeds to redeem $375M of 4.750% Senior Notes due 2022 (redemption expected Dec 20, 2021) and repay $125M revolver.
- Notes mature Nov 19, 2031; interest 2.800% semi-annual; callable at Treasury rate +20 bps before Aug 19, 2031.
- Offering closed Nov 19, 2021; joint book-runners: Wells Fargo, Citigroup, J.P. Morgan.